Interview preparation: Researching the company
Ken Pelczarski | TLT Career Coach July 2017
Follow these 13 items when investigating a potential employer.
© Can Stock Photo Inc. / 4774344sean
DO YOU HAVE AN INTERVIEW coming up soon for an outstanding career opportunity? Perhaps you have already reviewed the job description, obtained the interview agenda, prepared your resume and other documents, listed questions to ask and are ready to present your background and goals. Is there anything else to do in preparation? Absolutely! Nothing is more critical than researching the company.
According to my April 2016 lubricant industry survey, the biggest pet peeve of hiring managers in the interview process is lack of preparation by candidates (i.e., not researching the company, position, job posting, culture or industry). Fourteen out of 47 survey respondents stated this is one of their top three pet peeves (being poorly dressed/groomed was the second biggest pet peeve and mentioned by seven respondents). It is obvious that companies expect you to do your homework before the interview so that discussions will be more productive.
In-depth research of the company should provide you with:
1.
A solid basis for interview discussions
2.
Ideas for questions to ask
3.
Confidence in a potential long-term fit between you and the employer
4.
Enthusiasm for the opportunity.
When researching a company, you will be looking at the history of an organization as well as where it is now and where it is headed. You will be researching company ownership, management and the interview team.
Depending upon what you are trying to learn, below are possible sources of information:
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Company Website
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Job description
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Human resources
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Hiring team
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Current and past employees
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Annual reports
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Dunn & Bradstreet (D&B) reports
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Industry articles
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Technical societies
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Competitors
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Industry colleagues
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Current and past coworkers
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Academic professionals
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Google/search engines
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LinkedIn
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Facebook and Twitter
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Independent recruiters
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Directories.
13 ITEMS TO EVAUATE WHEN RESEARCHING THE EMPLOYER
1. The interview team. The more you learn about background, experience, interests and interviewing style of interview team members, the better chance you have of relating positively to each person. Look for things you have in common with each interviewer and plan questions based upon your research. Review LinkedIn profiles. Check biographies on the company Website. Learn information directly from human resources and the hiring team. Google each interviewer and find industry articles about them. Check to see if individuals are on Facebook and Twitter. Talk to current and past employees of the company. If you are dealing with a recruiter who has a close relationship with the employer, you can gain valuable information from this individual.
2. Upper management style and structure. Research upper management prior to the interview to gain confidence in the potential fit and to know what to emphasize about yourself during the interview. Find out if management is old-school, progressive, bureaucratic, supportive, participative, team-oriented, transparent and/or bottom-line oriented. Sources for this information are similar to Point 1 above but with strong focus on speaking with individuals who currently work or formerly worked for the employer. Once again, an independent recruiter can be a valuable resource.
3. Revenue and profitability. Research the company’s recent revenue and profitability as well as trends over the past five to 10 years. Determine if they are an industry leader in these categories. If the company is privately held, you may only learn approximate ranges of sales and profitability instead of exact figures. Make sure the company is moving in a positive direction, including as compared to competition. Learn this information from sources such as the company Website, annual reports, D&B reports, industry articles, independent recruiters and human resources and the hiring team. Googling may provide additional information sources.
4. Financial stability. Look for signs of financial instability within the company such as cutting operational costs, employee downsizing, freezing salaries, profitability decline and paying bills late. Acquiring this information early in the interview process will tell you a lot about potential risk in going to work for this employer and how it relates to your acceptable risk level. Much of this information can be gained through current and recent employees including directly from the hiring team. Underlying financials, including credit ratings/risk, can be evaluated through annual reports, D&B reports and by Googling for additional sources.
5. Buyout risk. As a new employee with a company being acquired, your employment could be at risk because of low seniority. You also may have less growth potential than expected or be asked to relocate. If you are considering a new opportunity, be sure to evaluate the chances of the company being bought out. An impending company sale is not always easy information to confirm. However, strong rumors in the industry may give you enough reason for concern. In addition, check with industry colleagues and contacts you have with current employees.
6. Growth plans. An employer’s strategic growth plans will influence your personal growth opportunities with the company. Look at the company’s plans to grow internally and/or through acquisition, as well as plans to expand into new products, services or locations. In advance of an in-person interview, acquire this information directly from human resources, the hiring team and other current employees, as well as through the recruiter representing you (if applicable). You also might find information about growth and expansion plans on the company Website and through Googling to locate relevant industry articles.
7. Standing among competitors. One great way to measure a company’s success is to stack it up against competition. Learn where the employer stands in terms of product, market and business-segment rankings. The employer will be impressed that you have done homework in this area. In addition, if you find encouraging facts about the company’s competitiveness, your enthusiasm will be apparent in the interview. Gather information from sources such as the company Website, industry articles, independent recruiters, industry colleagues, competition, annual reports and directly from human resources and the hiring team.
8. Industry reputation. An employer’s reputation and image in its field is a crucial factor in influencing its ability to acquire new customers and attract the best employees, as well as in determining its future growth and stability. The key here is to talk with as many of your connections as possible to obtain a consensus of “the word on the street” about this employer. Talk with current and past coworkers, industry colleagues, competitors and STLE/technical society members.
9. Promotion policy. This is a key factor in determining the type of personal growth you are likely to experience with the employer. Learning promotion policy ahead of time (e.g., does the employer first look within the company to fill a position before looking outside) will help you know what to emphasize about your career goals during interview discussions. Obtain promotion policy information in preliminary discussions with human resources, the hiring team and through the recruiter representing you (if applicable).
10. Employee turnover. Learning the level of employee turnover early in the process will prepare you to discuss this topic openly with the employer during the interview. You will even be able to address in a respectful manner the issue of why specific individuals have left the company. Try to find out employee turnover rate as it compares to the entire industry. Excellent sources for this information include human resources, the hiring team, current and past employees and independent recruiters. You also can get a feel for the company’s recent turnover and average length of employment by reviewing LinkedIn profiles of current and past employees.
11. Work environment and culture. It is ideal to learn something about company culture before an interview since cultural fit is a critical factor in determining long-term employment. This information will prepare you for selling aspects about yourself that make you an excellent cultural fit. Also, if the work environment is one in which you will truly thrive, you can sell this point enthusiastically to the employer. Current and past employees of all types are an excellent source for this information.
12. Typical profile of professional hires. Your level of confidence and enthusiasm in a career opportunity will increase even before an interview takes place if you learn that your background profile meshes with the type of individual profile the employer typically likes to hire. You may obtain this kind of information through your recruiter (if applicable) as well as through human resources and a careful review of the job description. In addition, view LinkedIn profiles of current employees, especially those who have been with the company for a while, to find parallels between your background profile and the company’s best employees.
13. Company history. Company history is a strong predictor of future success, which is why you should examine a timeline of ownership and management history, strategic direction changes, defining moments and events and new technology development. Evaluate if the company appears to be stable, growth-oriented, forward-thinking, innovative and financially sound. Look closely at recent financial and strategic trends to make sure the company is moving in a positive direction fitting to your career goals. Review the company Website, particularly for news and events, company management and
about us (usually a brief company history). A timeline of notable events also is featured on many company Websites. In addition, acquire information from independent recruiters and through Googling for relevant industry articles.
It is best to research the company thoroughly before an in-person interview to ensure that you make the most of the meeting. Company research is an ongoing process, though, in which you will be conducting additional valuable research at various stages of discussions.
The process of researching the employer before an interview is your chance to dig deep and learn a great deal about the organization. You will gain valuable knowledge, establish a high comfort level and generate excitement about an opportunity through your research.
Ken Pelczarski is owner and founder of Pelichem Associates, a Chicago-based search firm established in 1985 and specializing in the lubricants industry. You can reach Ken at (630) 960-1940 or at pelichem@aol.com.